Missouri corn plantings are indicated at 2.90 million
acres, 16 percent below last year and 6 percent below what farmers intended
to plant in March. Corn planting was behind normal throughout the planting
season while flooding in some areas reduced the ground available for planting
to corn. Corn acres for harvest for grain are forecast at 2.50 million,
down 23 percent from 2007 and the lowest level since 1998. The 400,000
acres not expected to be harvested is the largest amount abandoned since
1980. As of June 22, 43 percent of the crop was in good to excellent condition
with 85 percent emerged, a month behind normal.

Soybean planted and to be planted acreage in Missouri
is indicated at 5.30 million, 15 percent above 2007. If realized, this
would be the largest planted acreage since 1999 and 200,000 acres above
farmer’s March intentions. Soybean planting was over 3 weeks behind
the normal pace during May and June, reaching 66 percent planted as of
June 22. Harvested acres are expected to total 5.00 million acres, 10
percent above last year but 2 percent below 2 years ago. Thirty–four
percent of the crop was in good to excellent condition as of June 22.

Missouri winter wheat producers are expected to harvest
1.12 million acres of the 1.2 million acres planted last fall. If realized,
the harvested acreage would be up 27 percent from last year and 23 percent
above 2006. This would be the largest harvested acreage since 1998. As
of June 22, the wheat harvest was 21 percent complete, 5 days behind average
over the state but dry weather enabled rapid progress in the southeastern
counties. Seeded acres of oats in Missouri
are estimated at 15,000 acres, down 40 percent from last year. Oat acres
to be harvested for grain are indicated at 4,000 acres, half of a year
earlier. Oat planted and harvested acres are the lowest on record.

Total area of all hay to be harvested in Missouri
this year is estimated at 4.15 million acres, with 3.75 million
acres of other hay and 400,000 of alfalfa. Total hay acreage is up 2 percent
from last year. Cotton planted acres in Missouri
are estimated at 300,000, down 80,000 acres, or 21 percent, from last
year's level and the lowest level since 1990. Sixteen percent of the cotton
was squaring as of June 22, 9 days behind normal. Planted area of Missouri
rice this year is estimated at 200,000 acres, 11 percent above
2007. Eighty-five percent of the rice crop was in good to excellent condition
as of June 22, 2008.

Planted acres of sorghum in Missouri
are estimated at 100,000, tied with 2006 as the lowest planted acreage
since 1951. Sorghum to be harvested for grain is forecast at 95,000 acres,
10 percent below last year and the same as 2006. Potatoes
planted in Missouri are estimated at 4,000 acres, down from 6,800 acres
last year and the lowest level since 1972. Tobacco farmers
set 1,450 acres of tobacco in 2008, down 150 acres from last year.

United States Crops

Corn planted area for all purposes in the United
States is estimated at 87.3 million acres, down 7 percent from
last year. Despite the decrease, corn planted acreage is the second highest
since 1946, behind last year's total of 93.6 million acres. Growers expect
to harvest 78.9 million acres for grain, down 9 percent from 2007. If
realized, this would be the second highest since 1944, behind last year.

U. S. soybean planted area for 2008 is estimated at
74.5 million acres, up 17 percent from last year but 1 percent below the
record high acreage in 2006. Area for harvest, at 72.1 million acres,
is up 15 percent from 2007. Compared with last year, planted acreage increases
are expected in all States, and the U.S. planted area for soybeans is
the third largest on record.

All wheat planted area in the U. S.
is estimated at 63.5 million acres, up 5 percent from 2007. The 2008 U.
S.winter wheat planted area, at 46.6 million
acres, is 4 percent above last year but down slightly from the previous
estimate. Of this total, about 31.9 million acres are Hard Red Winter,
11.0 million acres are Soft Red Winter, and 3.7 million acres are White
Winter. Area planted to other spring wheat for 2008 is estimated at 14.2
million acres, up 7 percent from 2007. Of this total, about 13.4 million
acres are Hard Red Spring wheat. The Durum planted area for 2008 is 2.66
million acres, up 24 percent from the previous year.

All Cotton plantings for the U. S.
for 2008 are estimated at 9.25 million acres, 15 percent below last year
and the lowest since 1983. U. S. upland cotton planted
area is estimated at 9.04 million acres, down 14 percent from 2007.

Missouri Soybean Stocks Down Substantially, Corn Up

Missouri soybean stocks in all positions on June 1,
2008 totaled 21.5 million bushels, 47 percent less than stored a year
earlier. On-farm stocks totaled 9.50 million bushels, while 12.0 million
bushels were held in commercial facilities.

Total corn on hand in Missouri on June
1 amounted to 92.7 million bushels, 28 percent more than the amount stored
a year earlier. On-farm stocks accounted for 48.0 million bushels, while
off-farm corn totaled 44.7 million bushels.

June 1 stocks of old-crop wheat in all positions in
Missouri totaled 8.92 million bushels, down 31 percent
from a year earlier.

Sorghum stocks in Missouri on June
1 totaled 1.82 million bushels, 56 percent above a year ago. On-farm sorghum
accounted for 850,000 bushels, while 970,000 were in commercial facilities.

Missouri rough rice stocks in all positions on June
1 totaled 1.88 million cwt., 59 percent below the 4.59 million cwt. on
hand March 1, 2008. This is the first June 1 rice stocks estimate.

United States

Soybeans stored in all positions in the United
States on June 1, 2008 totaled 676 million bushels, down 38 percent
from June 1, 2007. On-farm stocks totaled 227 million bushels, down 55
percent from a year ago. Off-farm stocks, at 449 million bushels, are
down 24 percent from the previous year. Indicated disappearance for the
March - May 2008 quarter totaled 758 million bushels, up 9 percent from
the same period a year earlier.

U. S. corn stocks in all positions on June 1, 2008 totaled
4.03 billion bushels, up 14 percent from June 1, 2007. Of the total stocks,
1.97 billion bushels are stored on farms, up 8 percent from a year earlier.
Off-farm stocks, at 2.06 billion bushels, are up 21 percent from a year
ago. The March - May 2008 indicated disappearance is 2.83 billion bushels,
compared with 2.53 billion bushels during the same period last year.

All wheat stored in the U. S. in all
positions on June 1, 2008 totaled 306 million bushels, down 33 percent
from a year ago. On-farm stocks are estimated at 25.6 million bushels,
down 65 percent from last year. Off-farm stocks, at 280 million bushels,
are down 27 percent from a year ago. The March - May 2008 indicated disappearance
is 404 million bushels, up 1 percent from the same period a year earlier.

U. S. grain sorghum stored in all positions on June
1, 2008 totaled 96.8 million bushels, up 29 percent from a year ago. On-farm
stocks, at 7.00 million bushels, are up 30 percent from last year. Off-farm
stocks, at 89.8 million bushels, are up 29 percent from June 1, 2007.
The March - May 2008 indicated disappearance from all positions is 89.1
million bushels, up 32 percent from the same period last year.
Off-farm stocks, at 383 million bushels, are down 17 percent from a year
ago.

Rough rice stocks in all positions in the U.
S. on June 1, 2008, totaled 53.4 million hundredweight (cwt).
Stocks held on farms totaled 6.10 million cwt, and off-farm stocks totaled
47.3 million cwt. Long grain varieties accounted for 67 percent of the
total rough rice, medium grain accounted for 30 percent, and short grain
varieties accounted for 3 percent. U. S. milled rice
stocks in all positions totaled 4.37 million cwt. Milled rice stocks were
comprised of 2.94 million cwt of whole kernel rice and 1.43 million cwt
of second heads, screenings, and brewers rice.